DA Davidson Reiterates Buy Rating for Blue Bird (NASDAQ:BLBD)

Blue Bird (NASDAQ:BLBD)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 price target on the stock. DA Davidson’s price target suggests a potential upside of 36.60% from the stock’s previous close.

BLBD has been the topic of several other reports. Zacks Research lowered Blue Bird from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Wall Street Zen raised shares of Blue Bird from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Needham & Company LLC raised their price target on shares of Blue Bird from $53.00 to $70.00 and gave the company a “buy” rating in a report on Monday, November 3rd. BTIG Research lifted their price objective on shares of Blue Bird from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Finally, UBS Group reiterated a “buy” rating on shares of Blue Bird in a report on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.92.

Blue Bird Stock Up 1.0%

Shares of BLBD traded up $0.50 during mid-day trading on Thursday, reaching $51.25. The company’s stock had a trading volume of 44,420 shares, compared to its average volume of 530,984. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.38 and a beta of 1.62. Blue Bird has a 1 year low of $30.04 and a 1 year high of $61.95. The company has a quick ratio of 0.92, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $54.66 and a 200 day moving average of $49.04.

Insider Transactions at Blue Bird

In other news, Director Phil Horlock sold 13,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $59.02, for a total value of $767,260.00. Following the sale, the director owned 240,766 shares of the company’s stock, valued at approximately $14,210,009.32. This represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Razvan Radulescu sold 6,709 shares of Blue Bird stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $57.41, for a total transaction of $385,163.69. Following the transaction, the chief financial officer directly owned 40,794 shares of the company’s stock, valued at $2,341,983.54. This represents a 14.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Danske Bank A S acquired a new stake in shares of Blue Bird during the 3rd quarter worth approximately $822,000. Caitong International Asset Management Co. Ltd increased its stake in Blue Bird by 10,028.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 702 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Blue Bird during the third quarter worth $1,757,000. Triumph Capital Management acquired a new stake in shares of Blue Bird during the third quarter worth $460,000. Finally, PDT Partners LLC lifted its position in Blue Bird by 6.5% in the 3rd quarter. PDT Partners LLC now owns 113,567 shares of the company’s stock valued at $6,536,000 after acquiring an additional 6,946 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.